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Sunday, September 16, 2012
Friday, September 14, 2012
Weekly Newsletter - Sep 14 2012
Indian markets had a splendid week, with the BSE Sensex and the NSE Nifty scaling seven-month peaks besides crossing important milestones. The much-awaited move on fuel price revision did come about, with the Government finally hiking diesel prices. LPG subsidy has been capped while excise duty on petrol has been slashed. The Government was also due to take a call on a whole host of reform measures to avert BRICS’ first debt downgrade to ‘junk’. All eyes are on the RBI, which reviews its policy on Monday. With inflation in August spiking, the RBI may not yet cut policy rates. Stocks could fly even higher if the RBI too springs a pleasant surprise. Globally too, things have improved considerably, with Europe, China and now the US unleashing fresh stimulus to boost growth. One bad news for India is the fresh uptick in commodity prices, especially that of crude oil and gold. We also need to see what follow-up policy action the Centre unveils in order to restore investor confidence.
Weekly Stock Picks - Sep 14 2012
Buy DLF Buy Bata India Buy Titan Buy LIC Housing Finance Buy Bank India
Weekly: Sensex, Nifty surges ~4.4% each
Indian markets had a splendid week, with the BSE Sensex and the NSE Nifty scaling seven-month peaks besides crossing important milestones. The much-awaited move on fuel price revision did come about with the Government finally hiking diesel prices. LPG subsidy has been capped while excise duty on petrol has been slashed. The Government was also due to take a call on a whole host of reform measures to avert BRICS’ first debt downgrade to ‘junk’. All eyes are on the RBI, which reviews its policy on Monday. With inflation in August spiking, the RBI may not yet cut policy rates. Stocks could fly even higher if the RBI too springs a pleasant surprise.
Sensex surges 400 points almost after a year;
The Indian markets witnessed a 2% rally for the eighth straight day. The Sensex closed 443 points higher while the Nifty gained 142 points in trade today. Major Headlines: Govt hikes diesel prices by Rs5 per litre Inflation for Aug at 7.55% vs 6.87% in July 2012 Cabinet to consider FDI in aviation, broadcast sector Govt terminates mining licence of 4-blocks
Govt approves 51% FDI in multi-brand retail
The Cabinet today (September 14, 2012) decided to operationalise 51 per cent FDI in multi-brand retail but left it to the state governments to allow setting up of such stores. The Cabinet has also cleared FDI in aviation and broadcast sectors. In another major decision, the government also cleared FDI in aviation by foreign carriers. FDI in aviation will help troubled companies like Kingfisher, Spicejet and Go Air The move signals the end of policy paralysis in the UPA government. The government has, however, left the option to invite multi-brand retail on the states. The Government approved the disinvestment of 5 Public Sector Units ( PSUs), including Oil India (10%), Nalco (12.5%) and Hindustan Copper (9.59%) The government had last year cleared 51% FDI in multi-brand retailers for cities with populations of more than a million. But it later rolled back the decision after protests by allies of UPA and opposition.
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